Benzinga | Jul 29, 2021 07:48AM EDT

Mogo Reports Its Carta Unit Is Partnering With UK's allpay, No Terms Disclosed

Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) ("Mogo" or the "Company"), a digital payments and financial technology company, announces that its wholly owned subsidiary, Carta Worldwide ("Carta"), a modern card issuing platform, is powering key public sector payment initiatives in the United Kingdom ("UK") in partnership with leading payments solutions provider allpay, the UK market leader of payment services within the public and social housing sector.

Among the recent initiatives is a program with the National Health Services through which prepaid cards, powered by technology from allpay and Carta, are being distributed across England to facilitate electronic payments to support health initiatives. The companies are also supporting the UK 'Healthy Start' program, providing new mothers with electronic payment capability to purchase essential food for their young children.

"Throughout Mogo's history, we have been working to democratize and simplify access to financial services through technology, and we're thrilled that our Carta payments platform is helping to power these large-scale and important public heath initiatives in partnership with allpay," said Greg Feller, President of Mogo.

Leveraging its modern open-API issuer platform, Carta enables the issuance of virtual and physical cards to support innovative solutions for businesses and organizations that are looking to deploy payment products and embedded financial services.

Tony Killeen, CEO, allpay Limited said: "The digitization of public health payments is creating an incredible impact in the UK. We are proud to see the successful roll-out of these initiatives. Carta has been a critical partner, allowing us to focus on delivering this best-in-market payment solution."